The value chain of bank’s record management system from origination to destruction, is mired in inefficiency and antiquation, while increasing regulation is placing growing pressure on financial service providers.
Standardizing Compliance Processes
BlockApps2020-05-19T19:33:49-04:00Regulatory bodies tend to be siloed and part of a complex value chain responsible for a prolific amount of work. These conditions inherently create opacity and inefficiency, with a dangerous ripple effect.
Digitizing KYC Processes
BlockApps2020-05-19T19:30:54-04:00KYC processes are labor-intensive, often manual, and prone to error and fraud, both of which cost banks colossal sums. Additionally, the lack of standardisation across systems creates a huge amount of duplication.
Encrypted Health Records
BlockApps2020-09-16T17:21:40-04:00The communication of healthcare records is neither secure nor efficient enough to serve its purpose, with frequent breaches data threatening the sanctity of the entire system.